Cardinal Health (NYSE:CAH) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Cardinal Health (NYSE:CAH) had its price objective boosted by JPMorgan Chase & Co. from $142.00 to $145.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Other research analysts have also issued research reports about the company. Wells Fargo & Company increased their price target on Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Barclays increased their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a report on Monday, November 4th. Mizuho started coverage on shares of Cardinal Health in a research note on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price target on the stock. Finally, UBS Group boosted their price objective on shares of Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average price target of $135.93.

Cardinal Health Stock Performance

CAH stock opened at $125.29 on Tuesday. The stock’s 50 day moving average price is $122.16 and its 200 day moving average price is $114.75. The firm has a market cap of $30.27 billion, a P/E ratio of 23.38, a PEG ratio of 1.46 and a beta of 0.63. Cardinal Health has a 1 year low of $93.17 and a 1 year high of $132.84.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, January 30th. The company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. On average, research analysts predict that Cardinal Health will post 7.92 earnings per share for the current year.

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.5056 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.61%. Cardinal Health’s dividend payout ratio is presently 37.69%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CAH. State Street Corp boosted its stake in shares of Cardinal Health by 4.6% during the 3rd quarter. State Street Corp now owns 14,177,641 shares of the company’s stock valued at $1,566,913,000 after buying an additional 627,253 shares during the last quarter. Geode Capital Management LLC boosted its stake in Cardinal Health by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after acquiring an additional 42,082 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Cardinal Health by 4.7% during the 3rd quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock worth $474,203,000 after acquiring an additional 191,568 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Cardinal Health by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock worth $162,976,000 after purchasing an additional 33,388 shares during the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of Cardinal Health by 47.9% in the 3rd quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock valued at $118,197,000 after purchasing an additional 346,362 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Company Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.